Rupee edges higher against US dollar
At 9.15am, the rupee was trading at 69.95 a dollar, up 0.33% from previous close of 70.18
Mumbai: The Indian rupee on Friday strengthened marginally against the US dollar, tracking gains in Asian currencies as the dollar fell on weak US manufacturing data. At 9.15am, the rupee was trading at 69.95 a dollar, up 0.33% from previous close of 70.18. It opened at 69.97 and touched a high and a low of 69.90 and 69.99, respectively. The 10-year gilt yield was trading at 7.406% from its previous close of 7.427%. Bond yields and prices move in opposite directions.
A gauge of US manufacturing plunged by the most since the 2008 recession a day after Apple cut its revenue outlook, fuelling concern that the trade war with China is taking a bigger-than-expected toll on economic growth.
The benchmark Sensex index rose 0.12% to 35934.63 points. Year to date, it is down 1.5%.
So far this year, the rupee has declined 0.86%, while foreign investors have bought $5.1 million in equities and sold $45.40 million in the debt markets.
Asian currencies were trading higher. Indonesian rupiah was up 1%, Thai Baht 0.54%, South Korean won 0.48%, China Offshore 0.17%, Singapore dollar 0.15%, China renminbi 0.14%, Malaysian ringgit 0.1%, Philippines peso 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 96.371, up 0.07% from its previous close of 96.305.
Bloomberg contributed to this story
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